Great Eastern has announced a significant initiative to support families in Singapore as part of the SG60 Family initiative, celebrating the nation’s 60th birthday. The insurer will provide S$400 in complimentary gift credits per child, including newborns, and free family insurance coverage throughout 2025. This initiative is in collaboration with the Ministry of Social and Family Development’s Large Families Scheme, introduced during the Singapore Budget 2025.
Families with children aged 16 and below in 2025 can claim S$400 gift credits for each child, with no cap on the total amount. These credits can be used to offset 10% of premiums for various insurance plans, including protection, savings, lifestyle, home, motor, and travel insurance from Great Eastern.
Colin Chan, Managing Director for Group Marketing at Great Eastern, emphasised the importance of financial planning, stating, “Through our SG60 Family initiative, we want families to prioritise financial planning by taking action to build multiple nest eggs that they can count on at different life stages to fulfil their goals and aspirations.”
The initiative aims to enhance financial security for families, allowing them to save for children’s education, upgrade homes, and celebrate significant life milestones. Ishak Ismail, Chairman for Families for Life Council, praised the initiative, noting that financial security enables families to focus on bonding and quality time together.
Great Eastern, a homegrown insurer, has been part of Singapore’s financial landscape since 1908. The company plans to launch more initiatives in 2025 to support communities and strengthen Singapore. Families can register for the SG60 Family initiative to access gift credits, insurance coverage, and exclusive offers.
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